By: John Browne, Senior Market Strategist, Euro Pacific Capital - 19 December, 2008
The Federal Reserve estimates that in the past year losses in real estate, stocks and mortgages have sucked out some $7.2 trillion of wealth from the U.S. economy. Some are now putting the figure at $20 trillion. A massive recession is starting and will likely spread throughout much of the world. These forces have exerted their classic strong downward pressure on the price of gold. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 19 December, 2008
-The Dow gives up the post-ZIRP gains…California Babylon seems to be getting a Biblical judgment… -It's the Revenge of the Dustbowl…gold is the only thing that resisted the bear market… -Obama's new stimulus package…deleveraging will give us a bout of '30s-style deflation…and more! Full Story
COMEX trades hundreds of times more gold & silver than they actually possess. If enough investors demand delivery of PHYSICAL gold & silver COMEX stockpiles will be depleted. If COMEX runs out, the ensuing rush to grab physical metal to settle contract obligations *could* be the spark that ignites the long-awaited precious metals wildfire. Full Story
RUNNING into YEAR-END 2008 with a hatful of fears, losses, hope and questions? Here's another puzzler to ponder as the $3 trillion of tax-funded bailouts now promised worldwide slowly roasts every bond-holder's goose over Christmas... As a proportion of global investable assets, Gold hasn't been this strongly-weighted for the last 15 years. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 19 December, 2008
The Great Stock Panic of 2008 was so mercilessly brutal that no sector escaped its ravages. Unfortunately gold stocks, despite their history of performing really well during general-stock bears, also succumbed to the universal panic selling. Extreme fear snowballed without relent until even long-time gold-stock enthusiasts capitulated and dumped their shares in disgust. Full Story
The recent refusal of the private-for-profit U.S. Federal Reserve to identify the recipients of over $2 trillion in loans funded and/or authorized by the U.S. Congress, “courtesy” of U.S. Taxpayers, serves to re-emphasize the Grave Threat which The Fed-led Cartel poses to democracy. Full Story
As 2009 approaches and 2008 fades away, I have a few thoughts about our economy. Perhaps you can factor them into your forecasts of what lies ahead. Full Story
By: Bill Murphy, Chairman, Gold Anti-Trust Action Committee Inc. - 19 December, 2008
There are two things for sure. First, as in the Madoff scandal, no one can say the powers that be didn't get the scoop, the facts about the gold price suppression scheme -- what has happened and why. And second, if there is one person in Washington who will try to get to the truth about gold, this is the man. Full Story
By: David Morgan, Silver Investor - 19 December, 2008
There is without a doubt a price differential between retail silver product, such as 100-troy-ounce silver bars, and the spot price for silver on the Futures Exchange. In fact, this presents a very good arbitrage opportunity for those willing to take the risk. This is accomplished by selling lots of 1000 troy ounces in 100-ounce-bar increments and locking in the 1000-oz. COMEX bars for delivery. This process is achievable and, as with all arbitrage situations, will find some market participants willing to take advantage of this opportunity. Full Story
By: Jason Hommel, Silver Stock Report - 19 December, 2008
Several people have suggested that the availability of 1000 oz. bars, by my wholesaler must prove that silver is not in short supply. Funny. I wonder if they think that I have the capacity to provide enough silver for all of world commerce? Not even my main supplier who has about $1/2 billion in various forms of bulk bullion has so much silver! Full Story
Measurement is perhaps second greatest problem in establishing satisfactory economic policies for a nation. That matters because those economic policies influence the value of the nation’s money on foreign exchange markets. In the case of the U.S. dollar, that $Gold has risen in value by more than 150% in the past ten years is unquestionably a failing grade for U.S. economic policy makers. Inflation measurement may be part of that inadequacy as it was used as a rationale for easy money. Full Story
By: Richard Daughty, The MOGAMBO GURU - 19 December, 2008
Pardon me for interrupting today's Stupid Mogambo Rant (SMR) with my laughing…but every time I think of some bozo buying 30-year Treasury debt at a price that is so high that the bond then yields a teensy-weensy 3% or so for 30 freaking years, I have to laugh when I think of such blinding stupidity! Full Story
By: Rick Ackerman, Rick's Picks - 19 December, 2008
At what point does a recession become a depression? Our colleague Bob Bronson of Bronson Capital Markets Research notes that there doesn’t appear to be a hard set of rules to help answer this question. “As far as we know there is no theoretic or empirically defined gradient for quantifying the full range of economic declines from recession to depression,” Bronson notes in a recent e-mail. “Please advise if you have information otherwise.” Full Story
By: Bill Bonner & The Daily Reckoning Crew - 18 December, 2008
-Everyone is howling for Bernie Madoff's head…but we think he just showed how the system actually operates…the markets connect the dots… -Leverage works both coming and going…the real action is happening in the currency markets - and we know of a winning strategy… -Bernanke is gonna go Gono…no one is as easy to scam as the scammers…wasn't the bubble nothing more than a giant pyramid scheme?…and more! Full Story
My nature is not to be an alarmist and I honestly don’t know for sure when and if the US will grab the ETF gold. However, over the next two years the federal deficit, funded by selling new Treasury securities, is certain to be over 10 percent of GDP. Holders of the dollar will want out and all that gold sitting in vaults makes it too easy for our federal government to come in and rob you of it in order to save the dollar and pay for socialism. Full Story
One of the most hotly debated topics among financial talking heads these days is, “Deflation or inflation, what is it going to be?” There is no question that we are currently experiencing asset price deflation and economic slowing. But we, the editors of The Casey Report, see this as a transitional phase. In our analysis, the truly extraordinary and historic levels of government spending and bailouts being deployed to keep the economy afloat are certain to lead to inflation in the not-too-distant future. Full Story
On Monday, December 15, backwardation on gold was still in force at an annualized discount rate that narrowed to 1.55% in the December contract, but widened to 0.36% in the February contract. 12,673 contracts remain for tender in December, including an additional 37 contracts since last Friday. The discount on the December futures was 50¢ offered to those owners of physical gold who would transfer the carry to the market for the remaining 14 in December, or 60¢ for the 72 days deferred delivery for the February contract. Full Story
Yesterday, we learned it was all for naught. “Severe” turned out to mean a mere 2.2 million barrels per day (bpd) cut. Another record… the biggest production cut in the cartel’s history…but nothing like the 3 or 4 million bpd the market was expecting. As you might expect, oil prices collapsed 8% in practically no time and traded under $40 a barrel for the first time since 2004. Full Story
This perma-bear has decided to jump back into oil. The risk-reward has moved back to the reward side. Back a year or so ago, I stated that “Peak Oil” was real but its impact won’t be truly felt until the next economic cycle. While that cycle appears a long way off given all the problems worldwide, the price of oil in my eyes has come down far enough to begin accumulation of oil-related investments. Full Story
By: Roland Watson, The Silver Analyst - 18 December, 2008
This article is intended as a follow up to the large number of emails I received after my article on high premiums on retail bullion silver. Needless to say, not everyone was in agreement with me and that was the majority! Full Story
By: Bob Chapman, The International Forecaster - 18 December, 2008
Americans and others have no idea what is going on nor do they understand the gravity of the situation. This is an event that only happens once every 500 to 1,000 years. This is going to be one of the granddaddies of all collapses. The elitists had to play boosting the value of real estate to dizzying heights and then burying it in structured finance. In a world of stable real estate prices, SIV’s and CDO’s were relatively risk free, but this was not a stable environment. Full Story
Gold closed above the important $850 level. This re-establishes gold’s intermediate term trend as bullish. Further confirmation is needed with a weekly close above $850.00. As long as gold stays above $850 the intermediate term trend will remain bullish. Short term anything can happen. Full Story
By: James West, The Midas Letter - 18 December, 2008
The biggest error an investor might make in the burgeoning third phase of the gold bull market is thinking the boat has been missed after new price territory is reached. Limiting your gains by trading in and out of the physical is insanity. Physical gold should only be considered if you plan to hold on to it for years, not months. Transportation, storage and security issues will chew up short term gains. Full Story
By: Richard Daughty, The MOGAMBO GURU - 18 December, 2008
If $2.8 trillion has been lost, then how much of this lost money that came into existence when it was first borrowed from a bank, is still owed to a bank? Or the shadow banking system? Full Story
By: Rick Ackerman, Rick's Picks - 18 December, 2008
A Wall Street Journal editorial on Tuesday tallied up the approximately $1 trillion that Japan injected into the economy during the 1990s in a failed attempt to overcome deflation. That amounts to 118 trillion yen, and we doubt that anyone could have imagined it would not be enough to do the job. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 17 December, 2008
-The Fed goes for broke - and the rest of the country follows…there are really only two ways out of this mess… -Instead of inflation, we're getting deflation…Gideon Gono can show the Fed how to use these 'new tools'… -Some sage advice for Obama…the SEC does not fight fraud, it aids and abets it…and more! Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 December, 2008
Gold has now entered the next and major leg of the long-term gold bull market after correcting down from $1,035. We believe it is now targeting $1,000, initially. This will be achieved with pullbacks and periods of consolidation. We believe, too, that gold shares will benefit to a greater extent than gold itself, in the next moves up. In particular, we feel that soundly based gold “Junior” mining companies will benefit strongly. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 17 December, 2008
American bankers are so fearful of a replay of the 1930's Great Depression, they've finally reached the point of "No-return," – lending $30-billion to Uncle Sam at a rock-bottom interest rate of zero-percent. Demand was so great at the last auction, the Treasury could have sold four-times as many T-bills. If short-term T-bill rates go negative, frightened bankers would effectively be paying the US Treasury for the privilege of lending money to it! Full Story
By: David Chapman, Union Securities - 17 December, 2008
While all asset classes except government debt instruments have suffered in 2008, gold and silver and the precious metals stocks as measured by the Gold Bugs Index (HUI) have clearly outperformed this decade. But not only that; their outperformance has been consistent during periods of financial stress and underperformance in the broader market. That includes both the periods of inflation (the 1970’s) and deflation (the Great Depression). Full Story
Where do these Wall Street MBAs and so called “economic experts” get their degrees from? A kinder surprise egg? A Christmas Cracker? Dropping interest rates is never good it is always bad. It is the sign of a weak economy and it always leads to a weak currency. What does that do for wealth preservation? Import Costs? And eventually inflation? Full Story
Faced with the threat of deflation, the Federal Reserve (Fed) may be trying to drive the dollar lower to spur inflation. As policy makers don't want home prices to deteriorate further, an alternative is to inflate the prices of all other goods and services: as a result, the relative prices of homes would be less expensive. Weakening the dollar is an effective policy tool to drive up inflation as the cost of import goes up. Just be careful: the Fed may be getting more than it is bargaining for. Full Story
The tendency towards structuring and implementing economic policy by popular opinion is not only going to forestall the low point in this downward cycle – it will add substantially to its duration and depth. Full Story
Close to zero Fed interest rates mark a new stage in the evolution of the US financial crisis, and the accompanying statement suggested that we may have rates at this level for a long period like Japan in the 90s. Even the most cursory glance at the US dollar chart shows a double-top and the dollar rally now looks to be definitely over. Given the inverse relationship with the gold price we can equally be sure that the yellow metal will shortly test is March highs again. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 17 December, 2008
As the multi-billion dollar Ponzi scheme orchestrated by Wall Street insider Bernard Madoff unravels in the media spotlight, the nation is being presented with a rare opportunity to understand the true nature of many of our most cherished financial structures. Hopefully we have the wisdom to connect the dots. Full Story
As the bear market ends and a new cyclical bull market begins with the bottoming of the 6-year cycle, we continue see the lagging effects of this year’s seismic volatility on almost a daily basis. For although the stock market price low has almost certainly been made and the 6-year cycle is starting to assert itself on the upside, more and more investors have capitulated to the emotional exhaustion the previous months have subjected them to. Full Story
By: Richard Daughty, The Mogambo Guru - 17 December, 2008
Oddly enough, there is no statistical offset for people like me, who are the nation's over-employed, which is to say we are chronically lazy, worthless and undependable louts who SHOULD be unemployed, but who actually have jobs! Full Story
By: Rick Ackerman, Rick's Picks - 17 December, 2008
Gold, stocks and T-Bond futures are closing fast on targets we’ve been drum-rolling in Rick’s Picks for the last couple of weeks. The targets could be reached more or less simultaneously, and although we won’t pretend to know what this apparent synchronicity portends, it could conceivably mark a turning point for major trends that have progressed since mid-July, when the dollar began a powerful bear rally. Full Story
Over the past several days the dollar has gone into a severe decline, and this drop does not look like a reaction within an ongoing uptrend, as was the case in September, for as we can see on the 6-month chart it follows the development of a Head-and-Shoulders top area, a distribution pattern that took nearly 2 months to form. It looks like the dollar has broken down from an important reversal pattern. Full Story
I think it's a good time to put things in perspective when it comes to the "Run on the COMEX Gold/Silver". As I have stated before, the “Authorized Warehouse” reported inventory as well as the CFTC reported "delivery notices" are most likely a complete fraud and a true default will never appear in this data until after the gold/silver rocket has taken off. Full Story
The principal missing piece in the grand American mosaic of banking destruction, corrupt collusion, fraudulent bonds, Wall Street control, suppressed regulators, compromised ratings agencies is JUSTICE. Foreign entities are aghast as the lack of prosecution, remedy, and removal from positions of power, as policy continues to be set by the participants responsible for the structural failure and prevalent fraud. Full Story
By: The Gold Report and Jeffrey Christian - 16 December, 2008
A foremost authority on the precious metals markets and a leading expert on commodities markets, CPM Group founder and Managing Director Jeffrey Christian brings some holiday cheer to The Gold Report readers. In this exclusive interview, he debunks doomsayers who await the dollar’s demise, anticipates what may well be a more powerful recovery from recession than most pundits do and foresees bright days for gold, silver, PGMs and specialty metals. Full Story
We live in perilous financial times. If you are not alarmed with the flow of financial events, then you are just not paying attention. The problems are serious and growing, the solutions limited. It’s as if everything that could go wrong, has gone wrong. I’d much prefer to write of a growing domestic and world economy, with increased demand for silver. But financial and economic headwinds have converged to interrupt world growth. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 16 December, 2008
-Houses lost more than $2 trillion in value in 2008…the Fed will cut rates today - but by how much? -The Trade of the Decade is in profit at both ends…Santa came early this year: gold is in the positive territory… -An economy is a living thing…Newsweek wants to help Obama fix the world…and more! Full Story
The effective rate of Fed funds has been trading significantly below the current target rate of 1.0% for some time now. Another 50bp cut to the target rate today is likely, although Fed funds futures suggest a better than 50/50 chance of a 75bp cut. Such a move is rather meaningless with the effective rate already at 0.10% to 0.20%. I mean, how much lower can the effective rate go? Full Story
In short, there needs to be a new bailout effort entitled the Criminal Reprieve Assistance Program (CRAP) to provide ingenious criminals like Madoff the tools required to help kick start the faltering U.S. economy. By investing $100 billion with Madoff so that he can start-up a new and improved SAP Fund and make current clients whole, the CRAP would immediately help restore confidence in the marketplace. Full Story
Rumor has it that the Federal Reserve is considering selling bonds. The legality is in question. Leaving that aside, why would the Fed do such a thing? If it did, how would such a thing work? What would be its effects? Full Story
By: Peter Grandich, Grandich Publications, LLC - 16 December, 2008
Gold has rallied nicely off dollar weakness and continuing strong physical buying. The “Talking Heads” on TOUT-TV can knock gold all they want (and they do) but it has held its value through 2008. I bet these salespeople/anchor personnel wish their 401k did as good. Let’s see how well gold does when the dollar consolidates its losses. Full Story
By: Steven Saville, Speculative Investor - 16 December, 2008
When a market's upward trend is consistent with an existing opinion the market will not be viewed as being in a bubble by the holder of the opinion, regardless of how far the price moves outside the bounds of normal valuation. For example, true believers in the idea that "Peak Oil" was creating a long-term irreversible shortage were not open to the possibility that the oil market was in 'bubble territory' earlier this year. Full Story
By: Andrew Mickey, Q1 Publishing - 16 December, 2008
Stocks are cheap, but bonds are at irresistibly cheap levels. If you’re looking to buy low, sell high and collect 9% or 10% interest in between, corporate bonds are definitely worth a look right now. The past year has been painful. Two million jobs have been lost, trillions of dollars in paper wealth has evaporated, the U.S. dollar is just off multi-year highs (showing its first signs of cracking though), and hurting exports…I could go on and on. Full Story
By: Richard Daughty, The MOGAMBO GURU - 16 December, 2008
Anyway, the point is that this current Price-to-Earnings ratio of 19 for the S&P 500 index is so high…that it is still near where the market soon started down in a huge bear market, and is still high even after losing half its value! I'm scared! Full Story
By: Rick Ackerman, Rick's Picks - 16 December, 2008
Is the dollar finally starting to crack? It surely looks that way, although we’ll need to see another day or two’s worth of action before we can be more certain. The carnage so far has crushed two key supports on the Dollar Index’s daily chart, and it won’t take much more selling to obliterate a third, greatly compounding the technical damage thus far. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 15 December, 2008
-We feel the Earth move under our feet - sell the dollar, and sell Treasuries…is the rally on or off? -No more haven status for the greenback…a gold coin is what it is, no more, no less… -If the Feds are going to throw money at Wall Street, shouldn't Detroit get some as well?…the second wave of the mortgage crisis…and more! Full Story
Well, the dollar is going down, and Goldman Sachs predicts $30 crude oil. That makes it a good bet that most commodities are in the process of forming bottoms right now. Gold, of course, bottomed over 7 weeks ago. Get with the program. The Fed is printing money, and everything is going up. Full Story
Madoff’s take of $50 billion demonstrates unequivocally that the entire investment industry is essentially one big confidence game, where appearances mean everything and substance is hard to come by. Listening to the petulant indignation emanating from the victims of that fraud who were “professional” investors elicits little sympathy from a public who watches helplessly as the Fed continues to pump taxpayer-backed dollars into the accounts of the biggest financial institutions. Full Story
Driven by low interest rates and easy credit, businesses and consumers have been taking on excessive leverage and ignoring downside risk. That same leverage is now being unwound and financial asset prices are falling dramatically. In this extraordinary environment, preserving your personal wealth becomes priority one. Or, in other words, return of capital and not return on capital is priority one. Full Story
Gold is money. Real money maintains its purchasing power. Real money is a hedge against inflation (increase in credit and paper money supply) and its effects as well as deflation (decrease in credit and paper money supply) and its effects. Gold is a hedge against inflation and deflation otherwise it would not be real money. Full Story
Now, with the experience of life behind me, it’s almost as if I am viewing the world through his eyes, looking at all the rot and corruption that permeates almost every aspect of our society. To an economist, such conditions are measured in imbalances and deficits, which are essentially reflections of our inability to pay set against unbridled aspirations. That’s what these conditions (imbalances and deficits) are measuring in the end, people attempting to get something for nothing, or a ‘free lunch’ as it were. Full Story
We were originally told that the whole problem was a sub prime mortgage problem. Unfortunately this is a LIE. The amount of all sub prime mortgages in America is $1.3 trillion Dollars. But the bailouts are already $8.5 trillion Dollars and growing daily. Why do you need $8.5 trillion to fix a $1.3 trillion problem? And that’s assuming that everybody with a sub prime mortgage goes into foreclosure and that the foreclosure sale proceeds are precisely zero, not exactly a likely outcome. Full Story
The Muslim terrorists of Mumbai are not our greatest threat nor will they cause the greatest suffering in the days ahead. That which will cause the greatest grief is the banker’s system of credit-based paper money, a house of cards now in flames and about to burn all inside who still believe it to be shelter instead of a charnel house. Full Story
By: Bill Murphy, Le Metropole Cafe, Inc. - 15 December, 2008
It has been the greatest of pleasures working on this presentation this weekend, conjuring, downloading, copying, searching, running to stores for supplies, asking questions, etc. This is a decade worth of material we are talking about. Figuring out what to include and assemble has been interesting, to say the least. Full Story
On Friday, December 12, backwardation on gold was still in force at an annualized discount rate hovering around 2% in the December contract, and 0.3% in February contract. Many readers have asked me how it is that so many other observers fail to see the backwardation. The discrepancy is due to differences in methodology. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 15 December, 2008
USA Today has raised the cost of their daily paper to one dollar. Knew the day was coming. The mining industry continues to suffer along with the rest of the stock market. Definitely a contrarian market now. The availability of credit is now zero and blessed be those companies who have previously stock piled huge wads of cash. They will have the best chance of surviving this market. Full Story
Through investigative documenting of the numerous financial panics since the mid-1800’s, we plan to reveal a pattern of reckless disregard for the general economic welfare of the citizens of the United States in favor of the pursuit of self-enrichment of those behind both these financial and industrial institutions and the government offices they influence through sheer economic might. Full Story
It is a feature of financial crashes that fraudsters and embezzlers emerge. As Warren Buffett put it: ‘When the tide goes out you see who has been swimming naked’. Before that it can be hellishly difficult spotting them. Who would have though 70 year old, ex-Nasdaq excutive and highly respected Wall Street trader, Bernard Madoff was masterminding a $50 billion Ponzi scheme as he admitted last week. Full Story
By: Rick Ackerman, Rick's Picks - 15 December, 2008
The $50 billion Ponzi scheme that rocked the investment world last week makes swindlers from the good old days look like pikers. Even after adjusting for inflation, the $220 million that Robert Vesco supposedly stole would amount to only a billion dollars. Bernie Cornfeld? Tito D’Angelis? Stanley Goldblum? These con artists of yesteryear no longer rate even a dishonorable mention in the Guinness Book of Records now that Bernie Maduff has come along with a scandal truly worthy of these times. Full Story
Gold was up 9% for the week, closing at $820.50 (continuous contract). $850 is a crucial level, as it represents the intermediate term trend. $850 is also the price of the previous bull market highs going back decades, so this is an important level to watch. Full Story
1st Hour: Headline news & Market Weatherman Forecast. Spotlight Stock Picks with big dividends. The International Forecaster and Host Chris Waltzek answer listeners' questions. 2nd Hour: Peter Schiff- Full Story
By: Bob Chapman, The International Forecaster - 14 December, 2008
The financial system is a great dark hole. It has already collapsed. The elitists are trying to hold it together with bailing wire and chewing gum, called money and credit and loans. It won’t work. The system is so seized up that lenders can no longer flog credit-card debt. The well has run dry. It is inflate or die. Full Story
By: John Mauldin, Millennium Wave Advisors - 14 December, 2008
There are things in today's markets that are simply astounding. They should not exist, yet they do. Why should US bills trade at negative interest? How can oil be trading at all-time highs in terms of spreads over the next year? Bank debt and bonds are trading at discounts not to be believed. Want some free money? I show you a trade that gives you (almost) just that. Fed funds at zero? Are we starting to push on a string? We'll cover all this and more in this week's letter. Full Story
By: Sol Palha, Tactical Investor - 14 December, 2008
The dollar today traded below 85.50 another important key price point and as such it indicates that the correction is gathering steam. During this corrective phase the Dollar should not trade below the 83.70-84.00 ranges for more than 6 days, for if it does, the next target will be 81. After hitting 81, it should mount a rally and at least test the 83.00 ranges before pulling back; if it is unable to do this then the next target becomes 78. Full Story
Over the last few weeks, there have been a lot of articles on the Internet about backwardation, i.e., when the price of commodities for delivery today is higher than the price of commodities for delivery in the future. Like nearly all the things on the Internet, most of what was written is useful, but some of it is total rubbish, and it takes time to sort through to find the gems from the rest. I offer the following in the hope that it clears up some of the confusion that has arisen about backwardation as well as to provide some insight into today’s gold market. Full Story
By: Gary North, Mises on Money - 14 December, 2008
If a nation's central bank could provide stable money, we would have slowly falling prices: more goods chasing a fixed quantity of money. If the central bank could provide stable prices, with a slightly rising money supply – Milton Friedman's hope deferred – the dollar would not have declined by 95%. The central bank cannot and has not supplied either stable money or stable prices. It has provided price inflation, except during the Great Depression and 1955. Full Story
By: Trey Wasser, Pilot Point Partners - 14 December, 2008
Prior to the recent market meltdown, the market for junior mining companies had already been experiencing a severe correction since its peak in early 2007. Despite rising and historically high metal prices, money began leaving the market, in earnest, in the summer of 2007. By late last year, the correction had become a full-fledged bear market. Then the credit markets collapsed in September 2008. Full Story
I realize these predictions are pretty ugly. It’s bad and getting worse. Just the thought of food riots, high unemployment (we’ve been expecting 8% to 9% next summer but don’t really look forward to see what it looks like), and another year of economic uncertainty isn’t anything any of us really look forward to. Full Story
As most traders close out their books for the year it’s looking like gold may be the best performing asset this year but we still have a couple weeks to go. If that happens it should draw quite a bit of positive attention to the sector. Full Story
By: Richard Daughty, The Mogambo Guru - 14 December, 2008
So how low is this 'low' inflation rate that will allow the cutting of interest rates even though inflation is still positive? Well, it is now 2.1%, which has just fallen from 3.2%, and 2% inflation is the ECB's target! 'Inflation falling too low'! Hahahaha! Full Story
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